Orchid Island Capital Inc. (ORC)

[rokkdatstock]

5:10 pm ET December 10, 2018 (Globe Newswire) Print
-- December 2018 Monthly Dividend of $0.08 Per Share

-- RMBS Portfolio Characteristics as of November 30, 2018

-- Repurchased 1,288,497 shares through stock repurchase plan.

-- Next Dividend Announcement Expected January 10, 2019

Orchid Island Capital, Inc. (the "Company") (NYSE:ORC) announced today that the Board of Directors (the "Board") declared a monthly cash dividend for the month of December 2018. The dividend of $0.08 per share will be paid January 10, 2019, to holders of record on December 31, 2018, with an ex-dividend date of December 28, 2018. The Company plans on announcing its next dividend after the Board's meeting on January 10, 2019.

The Company intends to make regular monthly cash distributions to its stockholders. In order to qualify as a real estate investment trust ("REIT"), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future.

As of December 10, 2018, the Company had 50,710,671 shares outstanding, including 53,139 shares repurchased pursuant to the Company's stock repurchase program through that date that have not yet settled. At September 30, 2018, the Company had 52,039,168 shares outstanding.